Federal Reserve Bank of New York President John Williams said Thursday that he sees lower risks to inflation as tariffs have driven up price pressures less than expected. "I see on the margin...a reduction of some of the upside risks to inflation" from tariffs, Williams told reporters after speaking at the Economic Club of New York. He noted this reduction comes alongside greater clarity about future economic policy. Williams acknowledged that President Donald Trump's import tax increases are "definitely" affecting price pressures, but added that in terms of tariff pass-throughs to higher...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.10 during the early Asian session on Thursday. The WTI price falls as US President Donald Trump called Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to discuss ending the war in Ukraine. Trump discussed the war in Ukraine in phone calls with Putin and Zelenskiy. Trump claimed he and Putin had agreed to have their respective teams start negotiations immediately, and they will begin by calling Zelenskiy to inform him of the conversation. "Trump doing peace talks, I think that has...
Oil prices plunged more than 2% on Wednesday after U.S. President Donald Trump took the first major step toward diplomacy over the war in Ukraine that he has vowed to end, a war that has supported oil prices amid concerns about global supply. Brent crude futures fell $1.82, or 2.36%, to $75.18 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.95, or 2.66%, to $71.37. U.S. crude futures fell more than $2 at their session lows. The declines followed three days of gains, with Brent up 3.6% and WTI up 3.7%. U.S. President Donald Trump discussed the war in Ukraine in a phone...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, initially rose after a higher-than-expected January Consumer Price Index (CPI) data but then reversed course. Inflation beat estimates, causing investors to reassess the Federal Reserve's (Fed) policy path. While Fed Chair Jerome Powell remained non-committal on future interest rate cuts, Treasury yields moved higher, supporting the DXY early in the American session, but later fell below 107.90. The US Dollar Index attempted to move higher but faced resistance at 108.50, struggling to...
Gold prices recovered slightly in the North American session on Wednesday (2/12). Federal Reserve (Fed) Chairman Jerome Powell said that policy needs to remain tight as inflationary pressures increase and US President Donald Trump's tariff threats escalate. XAU/USD is trading at $2,897, almost unchanged. The non-yielding metal halted its downtrend after the US Bureau of Labor Statistics (BLS) revealed that inflation jumped above 3% in the United States, indicating that the Fed's pause in its easing cycle could be longer than expected. Last week, December federal funds rate futures showed...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades unchanged around 108.00 after Federal Reserve (Fed) Chairman Jerome Powell did not leave any clues for markets to pick up on, when facing lawmakers on Tuesday at Capitol Hill. Powell did not leave many clues about the timing for another interest rate cut by the central bank, if any. Traders are mulling what to do next, with US yields slowly but surely starting to head higher this week. The economic calendar shows the Consumer Price Index (CPI) numbers for January are due on...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...